CM1

Why CM1 from The Academic Junction??

 
CM1 Course Content by Institute and Faculty of Actuaries, UK

Actuarial Mathematics (CM1) provides a grounding in the principles of actuarial modelling, focusing on deterministic models and their application to financial products. It equips the student with knowledge of the basic principles of actuarial modelling, theories of interest rates and the mathematical techniques used to model and value cash flows which are either certain or are contingent on mortality, morbidity and/or survival. The subject includes theory and application of the ideas to real data sets using Microsoft Excel.

Exam format:

CM1A is 3 hours and 15 minutes exam, CM1B is 1 hour and 45-minutes Excel based exam.
Scientific Calculator is allowed in exam. However, you can use only one of the models from the list below. This can also be used for future exams.

1. Casio FX82 (ES/MS) (with or without any suffix)
2. Casio FX83 (ES/MS) (with or without any suffix)
3. Casio FX85 (ES/MS) (with or without any suffix)
4. Sharp EL531 (with or without any prefix or suffix)
5. Texas Instruments BA II Plus (with or without any suffix)
6. Texas Instruments TI-30 (with or without any suffix)
7. Hewlett Packard HP12c (with or without any suffix)

 
CM1 SYLLABUS by IFOA

1 The basics of modelling (10%)
2 Theory of interest rates (20%)
3 Equation of value and its applications (15%)
4 Single decrement models (10%)
5 Multiple decrement and multiple life models (10%)
6 Pricing and reserving (35%)

In the CM subjects, the approximate split of assessment across the three skill types is 20% Knowledge, 65% Application and 15% Higher Order skills.